NewsBytes
    Hindi Tamil Telugu
    More
    In the news
    Narendra Modi
    Amit Shah
    Box Office Collection
    Bharatiya Janata Party (BJP)
    OTT releases
    Hindi Tamil Telugu
    NewsBytes
    User Placeholder

    Hi,

    Logout

    India
    Business
    World
    Politics
    Sports
    Technology
    Entertainment
    Auto
    Lifestyle
    Inspirational
    Career
    Bengaluru
    Delhi
    Mumbai

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
    Home / News / Business News / Retail inflation now stable and within acceptable range: Finance Minister
    Next Article
    Retail inflation now stable and within acceptable range: Finance Minister
    The core inflation rate fell from 5.1% in April 2023 to 4.3% in October 2023

    Retail inflation now stable and within acceptable range: Finance Minister

    By Rishabh Raj
    Dec 11, 2023
    06:57 pm

    What's the story

    Finance Minister Nirmala Sitharaman announced on Monday that the country's retail inflation has stabilized and now falls within the acceptable range of 2% to 6%.

    In a written response to the Lok Sabha, she stated that retail inflation dropped from an average of 7.1% between April and October 2022 to 5.4% during the same period in 2023.

    The Finance Minister attributed occasional inflation spikes to demand-supply imbalances caused by global events and unfavorable weather conditions.

    Details

    Core inflation rate drops, easing inflationary pressure

    Sitharaman emphasized that a consistent decrease in core inflation, calculated by excluding volatile food and fuel items from retail inflation, played a crucial role in reducing inflationary pressure on the Indian economy.

    The core inflation rate fell from 5.1% in April 2023 to 4.3% in October 2023.

    Since the introduction of the inflation tolerance band in 2016, India's retail inflation has mostly remained within acceptable limits.

    What Next?

    Government and RBI measures help resolve demand-supply mismatches

    The Finance Minister credited the government's proactive supply-side initiatives and the Reserve Bank of India's (RBI) effective demand stabilization measures for addressing demand-supply mismatches and controlling inflation.

    These government actions include bolstering reserves for essential food items, conducting periodic open market releases, facilitating imports of crucial food items through trade policy measures, preventing hoarding by imposing or revising stock limits, and directing supplies through designated retail outlets.

    Insights

    Initiatives for food security and increased subsidy under Ujjwala scheme

    Sitharaman also mentioned the extension of the Pradhan Mantri Garib Kalyan Anna Yojana for five years, starting January 1, 2024, to ensure food security for the poor.

    This program provides free food grains to approximately 81.35 crore beneficiaries.

    The government has also increased the subsidy under the Pradhan Mantri Ujjwala Yojana from Rs. 200 to Rs. 300 per 14.2 kg cylinder in October 2023.

    Facebook
    Whatsapp
    Twitter
    Linkedin
    Related News
    Latest
    Nirmala Sitharaman
    Inflation

    Latest

    Pakistan fired 300-400 drones, used civilian planes as cover: Government  Jammu And Kashmir
    'I have other commitments': Parth Samthaan confirms leaving 'CID 2' Sony TV
    'Aisha' actor buys ₹37cr luxury apartment in Mumbai  Bollywood
    New Pope watched 'Conclave' right before election Pope Francis

    Nirmala Sitharaman

    Budget session of Parliament from January 31 to April 6 Budget Session
    Centre mulling over reducing income tax rates under new regime Union Budget
    Finance Minister Nirmala Sitharaman to present 2023 Economic Survey today Union Budget
    Parliament Budget Session begins; President Murmu calls government fearless, decisive Parliament

    Inflation

    Heatwave to sweep India as February records highest-ever temperature India Meteorological Department (IMD)
    Moody's is bullish on India's growth despite the declining GDP Gross Domestic Product
    Pakistan: Inflation reaches 31.6%, breaks 58-year record  Pakistan News
    Balaji Srinivasan says Bitcoin to hit $1mn soon: Here's why Bitcoin
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2025